Carrefour Partners with CFAO to Develop Its Banner Through Various Store Formats in Eight African Countries

Wed May 29, 2013 11:45am EDT

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Carrefour Partners with CFAO to Develop Its Banner Through Various
Store Formats in Eight African Countries

Regulatory News:

Carrefour (Paris:CA) and CFAO announced today the signature of a
memorandum of understanding to form a joint venture that will be owned
at 55% by CFAO and 45% by Carrefour. This venture will benefit from
exclusive distribution rights to develop various store formats in eight
countries in West and Central Africa: Cameroon, Congo, Côte d'Ivoire,
the Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal.

As the world’s second-largest retailer with a presence in over 30
countries, Carrefour will contribute its expertise as a multi-format
retailer as well as the strength of its banner. CFAO, with its
longstanding local presence in Africa, will bring its thorough knowledge
of these markets and a deep understanding of consumer habits to the
venture.

About CarrefourThe Carrefour Group is a
multilocal retailer the second worldwide and the largest in Europe, with
more than 364.900 employees all over the world and more than 10,000
stores under banner in more than 30 countries.For over
fifty years, Carrefour has been a partner in the day to day lives of
more than 25 million customers in Europe, Asia and Latin America.The
Group combines different store formats - hypermarkets, supermarkets,
convenience stores and cash & carry outlets - constantly adapting to its
customers’ consumption patterns, and offering the lowest prices on a
large range of products and services. With more than 3 billion cash
transactions per year, the Group, through its activities, has an
economic, social and environmental responsibility and is committed to
the quality of its products and the safety of its customers.For
more information please visit our website: www.carrefour.com

About CFAOCFAO is the foremost specialized retail
brand in its main business areas – vehicle and pharmaceuticals
distribution – in Africa and the French overseas territories. In Africa,
CFAO also distributes equipment, produces and distributes consumer goods
and is a provider of a number of technology-related services. CFAO is
present in 37 countries, 32 of which are in Africa and seven in the
French overseas territories, and had a headcount of 11,400 at end-2012.In
2012, CFAO generated consolidated revenue of €3,585 million and recorded
recurring operating income of €290.3 million.CFAO is listed
on NYSE Euronext in Paris and is now a 97.8%-owned subsidiary of TTC
(Japan).Find CFAO on Bloomberg: CFAO: FP and Reuters:
CFAO.PATo find out more, go to www.cfaogroup.com